Economy
S&P upgrades Greece to 'B+' on back of Eurogroup agreement
S&P was the first credit rating agency to respond to last week’s Eurogroup agreement by raising Greece’s long-term credit rating to ‘B+’ from ‘B’ on Monday.
EC sees relief measures securing debt sustainability despite poorer growth, market access prospects
Following the Eurogroup agreement early last Friday, the European Commission updated the compliance report of the fourth review to include the Debt Sustainability Analysis (DSA) put together by Greece’s European creditors.
PPC reports turnover decline of 6.5 pct in Q1 on lower sales
Greece’s majority state-owned Public Power Corporation’s (PPC) first quarter (Q1) results showed that turnover fell by 6.5 percent in the first three months of the year.
Lenders set out post-MoU reform tasks ahead for Athens
Aside from marking the completion of Greece’s third and final European Stability Mechanism (ESM) programme, last Thursday’s Eurogroup also outlined the set of commitments that the Greek authorities will have to undertake so the complete set of reforms are successfully signed off.
Eurogroup agrees on significant debt relief measures for Greece
After lengthy discussions in Luxembourg on Thursday, the Eurogroup arrived at a decision on significant debt relief for Greece that ticks many of the boxes the government had been hoping for but which will still leave Athens with a significant exposure to the International Monetary Fund.
Travel balance down by 29 pct in April as receipts slump
Greece’s travel balance fell by 29 percent year-on-year (YoY) in April, dropping into negative territory after March’s growth of 48.30 percent, Bank of Greece (BoG) data revealed on Thursday.
The race to reduce Greece's bad loans
Ahead of this week’s Eurogroup, the bad loans plaguing Greece’s banks are once again coming into focus.
April current account deficit at 1.34 bln as goods deficit grows
Greece’s current account (C/A) balance recorded a deficit of 1.34 billion euros in April, deepening from March’s deficit of 955.8 million, Bank of Greece (BoG) figures showed on Wednesday.
Lenders set out post-MoU framework with aim of securing reforms
Details of the post-programme framework that is set to be agreed at Thursday’s Eurogroup, ensuring that Greece meets its fiscal and reform targets in the future, have been published.
Industrial turnover rises by 6.7 pct in April for fourth positive reading
Greece’s industrial turnover reflected a strong increase in April with growth of 6.7 percent after March’s figure was revised upward to 3.7 percent, Hellenic Statistical Authority (ELSTAT) data published on Tuesday showed.